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(1) To protect Colorado consumers from excessive prescription drug costs, the board shall:
(a) Collect and evaluate information concerning the cost of prescription drugs sold to Colorado consumers, as described in section 10-16-1405;
(b) Perform affordability reviews of prescription drugs, as described in section 10-16-1406;
(c) Establish upper payment limits for prescription drugs, as described in section 10-16-1407; and
(d) Make policy recommendations to the general assembly to improve the affordability of prescription drugs for Colorado consumers, as described in section 10-16-1414 (1)(h).
(2) The board may establish ad hoc work groups to consider matters related to the work of the board pursuant to this part 14. Ad hoc work groups may include members of the public.
(3) The division, on behalf of the board, may enter into a contract with a qualified, independent third party for any service necessary to carry out the powers and duties of the board. A third party with which the division contracts pursuant to this subsection (3), including any of the third party's directors, officers, employees, contractors, or agents, shall not release or publish any information that the third party acquires pursuant to its performance under the contract. Any third party with which the division contracts pursuant to this subsection (3) shall disclose any conflict of interest to the board.
(4) In carrying out its duties pursuant to this part 14, the division, when performing its duties on behalf of the board, is exempt from the state Procurement Code, articles 101 to 112 of title 24.
(5) The board shall promulgate rules as necessary, pursuant to article 4 of title 24, for the implementation of this part 14.
(6) (a) The division, on behalf of the board, may seek, accept, and expend gifts, grants, and donations from private or public sources for the purposes of this part 14, and any such gifts, grants, and donations are continuously appropriated to the department of regulatory agencies; except that the division shall not accept any gift, grant, or donation that creates a conflict of interest or the appearance of any conflict of interest for any board member.
(b) The general assembly finds that the implementation of this part 14 does not rely entirely on the receipt of adequate funding through gifts, grants, or donations. Therefore, the board is not subject to the reporting requirements described in section 24-75-1303.